Form 4: Cleveland-Cliffs Director Jane M. Cronin Acquires Shares Through Restricted Stock Grant

Director Jane M. Cronin acquired 4,522 shares of Cleveland-Cliffs Inc. common stock through a restricted stock grant.

Summary

• Jane M. Cronin, a director at Cleveland-Cliffs Inc., acquired 4,522 common shares on January 3, 2025.
• The shares were granted as restricted stock under the 2021 Nonemployee Directors' Compensation Plan.
• The acquisition was a pro rata grant of the 2024 Director Restricted Shares.
• The price per share for the acquisition was $0, indicating a grant rather than a purchase.

Sentiment

Score: 7

Explanation: The document reflects a routine director compensation event, which is generally positive for aligning interests but not a major market-moving event.

Positives

• The acquisition of shares by a director demonstrates alignment of interests with shareholders.
• The grant of restricted stock is a common form of compensation for directors.

Industry Context

This is a standard practice for director compensation in publicly traded companies, aligning director interests with shareholder value through equity ownership.

Comparison to Industry Standards

• Restricted stock grants are a common form of compensation for directors across various industries, including materials and mining.
• Companies like BHP, Rio Tinto, and Vale also use similar equity-based compensation plans for their directors.
• The size of the grant is typical for a director's annual compensation package, though specific amounts vary based on company size and performance.

Stakeholder Impact

• The stock grant aligns the director's interests with those of shareholders.
• The grant does not have a direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

Cleveland-Cliffs, Director, Stock Grant, Restricted Shares, SEC Form 4, CLF, Insider Trading